Sam Walton Net Worth At Death – How Did He Get Rich? Exposed!

Sam Walton Net Worth At Death

Sam Walton had an estimated net worth of $8.6 Billion at death. He was an American businessman best known for founding the retail chain Walmart, which grew to be the world’s largest corporation. He earned the majority of his income from Walmart.

After years in the retail management business, Sam Walton opened the first Walmart in 1962. Over the next 30 years, the discount retailer expanded internationally, eventually becoming the world’s largest corporation by 2010. At the age of 70, Walton stepped down as CEO in 1988, but remained active in the company until his death in 1992.

To calculate the net worth of Sam Walton, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets. All debts, such as loans and personal debt, are included in total liabilities.

Here’s the breakdown of his net worth:

Name: Sam Walton
Net Worth: $8.6 Billion
Monthly Salary: $20 Million+
Annual Income: $300 Million+
Source of Wealth: Entrepreneur

Early Years

Samuel Moore Walton, a pioneering businessman who demonstrated that large discount stores could thrive in small, rural areas, was born on March 29, 1918, in Kingfisher, Oklahoma. He was the first child of banker Thomas Walton and his wife, Nancy Lee.

Walton and his family moved to Missouri early in his life, where he was raised. Walton was an Eagle Scout and a capable student and athlete who quarterbacked his high school football team. His classmates voted him “most versatile boy” when he graduated from Hickman High School in Columbia, Missouri, in 1936.

Walton stayed close to home after high school and enrolled at the University of Missouri in Columbia, where he earned a bachelor’s degree in economics in 1940.

Recommendation: Make Passive Income Online

Early Retail Career

Following college, Walton got his first real taste of the retail world when he took a job with the J.C. Penney Company in Des Moines, which was still a relatively small retailer at the time. Walton returned to private life in 1945, after serving as an Army captain in an intelligence unit during WWII, and used a $25,000 loan from his father-in-law to purchase his first store, a Ben Franklin franchise in Newport, Arkansas.

Walton amassed 15 Ben Franklin stores in less than two decades, working with his younger brother, James. But his dissatisfaction with the chain’s management, particularly the decision to ignore Walton’s push to expand into rural communities, drove him to strike out on his own.

Building an Empire

Walton opened his first Walmart store in Rogers, Arkansas, in 1962. Success came quickly. By 1976, Walmart was a publicly traded company with a market capitalization of more than $176 million. Walmart’s stock value had risen to $45 billion by the early 1990s. Walmart surpassed Sears, Roebuck & Company to become the nation’s largest retailer in 1991.

Walton was largely responsible for the company’s success. His vision of a rural discount retail store was accompanied by the founder’s hard-charging, demanding personality. Walton, who frequently started his days at 4:30 a.m., expected results from those beneath him and wasn’t afraid to change course or reshuffle his personnel if he didn’t like the numbers that came back to him.

Walton’s stores were successful even during the recession. During the country’s economic downturn in 1991, Walmart increased sales by more than 40%. However, Walmart’s success made it a target, particularly for small-town merchants and other residents who claimed the giant chain was destroying a community’s smaller stores and downtown retail. Walton, on the other hand, tried to address those concerns head on, promising jobs and donations to local charities, which the company frequently delivered on.

Final Years

Walton, an avid hunter and outdoorsman, maintained a humble demeanor until his death. His preferred mode of transportation was a red 1985 Ford pickup. He had lived in Bentonville, Arkansas, with his wife Helen, whom he married in 1943, since 1959. S. Robson, John, James, and Alice were the couple’s four children.

Forbes magazine named Walton the wealthiest man in the United States in 1985, a statement that irritated the businessman more than anything else. “All that nonsense about people’s net worth is just stupid, and it’s made my life a lot more complicated and difficult,” he said.

Walton died from two types of cancer in the last few years of his life: hairy-cell leukemia and bone marrow cancer. On April 5, 1992, he died of the latter at the University of Arkansas Medical Sciences Hospital in Little Rock, Arkansas.

President George H.W. Bush awarded Walton the Presidential Medal of Freedom just a month before his death.

Success Lessons From Sam Walton

1. Diligence and Hard work

Diligence and hard work are two ingredients that are most definitely found in every successful entrepreneur; Sam had them in abundance. It is also the first commandment in Sam Walton’s 10 commandments. Sam was known to start his day as early as 4:30am and he expected results from those beneath him.

2. Family

This is more like a two-edged sword, as family and friends could be the reason why that business of yours would crash months after liftoff (e.g requesting for goods or services on credit). Family could also be the reason why that business would succeed, by offering much needed funds, timely advice and encouragement. Repeatedly Sam’s father-in-law came to his rescue by offering him huge loans.

Also, he was able to own those 15 Ben Franklin stores because his brother, James, worked tirelessly alongside him. Family is important, they sometimes can be a pain in the butt, but their significance outweighs their drawback.

3. Learn From Mistakes

Mistakes are life’s ways of making you wiser, if you don’t learn from your mistakes or failures then you are doomed. Failures will always come in business, disappointment will always come, they should never deter you; rather they should make you wiser.

Twice Sam found himself in difficult situations, first with the landlord who refused to renew his lease and again with the Ben Franklin directors who were not ready for his revolutionary idea.

Sam showed that he had learned from his mistake when he negotiated a 99- year lease on the next store after P.K Holmes kicked him out. Also, he was not deterred or discouraged by the Directors’ rejection.

4. Employ the Blue Ocean Strategy

The Blue Ocean strategy is a systematic approach to making competition irrelevant. Rather than engage in meaningless competitions and squabbles, invent a way of making your product or service different from what is offered in the market.

That way you would have created an uncontested market space ripe for your astronomical growth. Sam employed this strategy. Although retailing or discount stores were not particularly new, he changed the approach when he decided to build bigger stores that discounted EVERYTHING, not just specialty items as was the practice then, and also chose to place them in small towns.

This was not the practice those days and that was why the directors at Ben Franklin kicked against it. The lesson here is; think about a way to make your product or service a little different, if not a little better, than what is in the market. You must have a competitive advantage if you are to survive.

The business world is crowded, how can you be different?

5. Treat your employees/partners kindly

This point was so important to Walton that it formed the core of commandment’s 2,3,4,5 and 7.

One strategy that also helped Walton’s success was encouraging his store managers to own part of the business. This helped motivate them to work even harder since they also had a stake in the business.

As a young budding entrepreneur, you may not be able to ask your employees to buy into your business, but one thing you can do is to treat them fairly and kindly.

In a lot of cases they will determine how far you will end up going.

Favorite Sam Walton Quotes

“We take the best ideas from someone else.”

 

“A computer can tell you down to the dime what you’ve sold. But it can never tell you how much you could have sold.”

 

“A town of less than 50,000 population cannot support a discount store for very long.”

 

“Ignore the conventional wisdom. If everybody else is doing it one way, there’s a good chance you can find your niche by going in exactly the opposite direction.”

 

“I have always been driven to buck the system, to innovate, to take things beyond where they’ve been.”

 

“Nothing else can quite substitute for a few well-chosen, well-timed, sincere words of praise. They’re absolutely free and worth a fortune.”

 

“The two most important words I ever wrote were on that first Walmart sign, ‘Satisfaction Guaranteed.'”

 

“One person seeking glory doesn’t accomplish very much.”

Further Reading

Related Lists of Celebrities’ Net Worth

Or, browse all celebrities’ net worth.

How To Become Rich Like Sam Walton?

Sam Walton did not become rich by luck. To become as rich as Sam Walton, you have to work smart.

Successful people become rich because they take advantage of the opportunities that come their way. They are in the right place at the right time and take the right action.

Thanks to the Internet, the world has changed massively in recent years. Nowadays it has become much easier to make money online.

Instead of looking for a 9-5 job and staying in your comfort zone, it’s better if you become your own boss as soon as possible.

You can learn how to build a digital asset that generates cash flow for you while you sleep to grow your wealth quickly.

If you seize this golden opportunity in time, you can become as successful as Sam Walton one day.

Recommendation: Make Passive Income Online

Leave a Comment